Retail News India

Flipkart to draw massive investments from Microsoft, eBay and Tencent

February 22, 2017
/ 2 min read

Flipkart, which also owns the fashion retailers Myntra and Jabong as well as payments app PhonePe, initially wanted to raise anywhere between USD500 million and USD1 billion but is now seeking up to USD1.5 billion, three people familiar to the development

Vaishnavi
News Creator

India's one of the largest online retailer, Flipkart is in talks to raise up to massive USD1.5 billion from investors including Microsoft Corp., eBay Inc., PayPal Holdings Inc. and Tencent Holdings Ltd at a valuation of USD10-12 billion, as per the reports.

Flipkart, which also owns the fashion retailers Myntra and Jabong as well as payments app PhonePe, initially wanted to raise anywhere between USD500 million and USD1 billion but is now seeking up to USD1.5 billion, three people familiar to the development revealed.

According to the report, apart from online marketplace eBay, payments firm Paypal, Chinese gaming and messaging giant Tencent, and Microsoft, Flipkart is also in talks with Google Capital for the ongoing round. Two financial investors or funds have also expressed interest in investing in Flipkart.